The show stars eleven women and eight men eliminated from various seasons of The Bachelor and The Bachelorette who compete for a $250,000 prize. The women on the first season were mostly from the The Bachelor season 14. The men on the first season were mostly from the The Bachelorette season 5. The show may also represent "a second chance at finding love" for those rejected by previous Bachelors and Bachelorettes. The contestants live together in a mansion and take part in challenges to prevent elimination, go on dates with contestants of their choice, and choose other contestants to eliminate.

At the beginning of the season, each contestant privately votes for a person of the opposite sex to be eliminated. Each week, the person with the highest vote count from each sex is eliminated, while a competition winner casts the deciding vote publicly in the event of a tie. In order to advance to the final eight, the sex with the least number of remaining contestants selects partners for competing as couples. A ballroom dancing competition, similar to Dancing with the Stars, is the final competition. Previous Bachelors and Bachelorettes serve as the judges, with the winning couple deciding the couple it will advance to the final vote. The final vote is left to the eliminated contestants who weigh the most deserving couple to be awarded the $250,000 prize. After the final vote, the couple participates in a Prisoner's Dilemma whereby the male contestant and female contestant must decide whether to keep or share the $250,000 prize. The final twist in the show's format is that if both contestants choose to "keep" the grand prize, the monetary prize is evenly distributed amongst the other eliminated contestants.

Season one ended with Natalie and Dave winning the final vote over Kiptyn and Tenley. The deciding vote was cast by Wes, who opposed Dave throughout the show. Natalie and Dave each chose to share the $250,000, thus leaving each with $125,000. Natalie promised to spend the money on repaying student loans and giving vacations to her parents. Natalie and Dave ended the show as friends, citing geographic constraints, while Kiptyn and Tenley ended the show by referring to each other as boyfriend and girlfriend.

The format made some changes in season three, adding fans into the regular contestant fold of previous Bachelor/Bachelorette contestants.

Because Jaclyn and Ed both won and Jaclyn took Ed on the first date, they were told to choose a man to get the date rose. That man would be able to ask the woman of his choosing on a date. Jaclyn gave the rose to Chris, who chose to take Sarah on the date.

Because Blakeley and Tony both won and Blakeley took Tony on a date, they were told to choose a man to get the date rose. That man would be able to ask the woman of his choosing on a date. They gave the rose to Kalon, who chose to take Lindzi on the date.

Because Chris and Sarah won, they were told to eliminate a couple and chose Tony and Blakeley.

Because Nick chose to keep the money, he won the whole $250,000 and Rachel was eliminated.